Search Results for "foreign currency"
Jamaica to Launch Central Bank Digital Currency in 2022
Jamaica’s Minister of Finance Nigel Clarke has announced that the country intends to launch its central bank digital currency (CBDC) in 2022.
Cambodia Officially Launches Its State-Backed Digital Currency “Bakong”
The National Bank of Cambodia has announced an official launch of a national digital currency that would operate via smartphone apps.
China to Launch Its Own Digital Currency Later This Year
In order to remain ahead in the global competition, China plans to launch its own digital currency known as Digital Currency Electronic Payment (DCEP). The digital currency will stimulate daily banking activities like deposits, payments, and withdrawals from the digital wallet. Crypto news website Coin Journal shows that the People’s Bank of China, China’s central bank has initiated the efforts to roll out its very own digital currency. It is an effort aimed at staying ahead among all the central banks worldwide as well as preserving financial sovereignty.
Japanese Lawmaker Urges Digital Yen Development to Curb China Dominance
Japanese Lawmaker, Kozo Yamamoto has called for the expedited development of Japan’s digital yen as the race to be the first nation with an operating central bank digital currency (CBDC) heats up.
Alibaba Founder and China's Richest Man Jack Ma: Digital Currency Could Redefine Money
Alibaba founder and China's richest Jack Ma says digital currency could redefine money and digital currency is the core of future finance.
Senate Hearing Views Digital Dollar CBDC as Critical to Maintaining Global Reserve Currency Status
The United States government’s plan for its digital dollar or central bank digital currency (CBDC) may have just reached a new level of urgency, as the US hopes to maintain its most effective tool of power—global dependence on the Federal Reserve and the US dollar.
European Central Bank President: Coronavirus Has Accelerated Digital Currency Adoption
COVID-19 has led to an acceleration in digital payments adoption and technological innovation, as seen by the spending pattern of European citizens.
Facebook’s Libra Move to Apply for Swiss Regulator FINMA License: A Failed Permissionless Network?
Libra is moving away from its original plan of permissionless digital currency, widely accessible for the public, due to ongoing unprecedented hardship. Libra will be moving towards a coin that would be subject to foreign exchange controls and regulations.
Central Bank Digital Currency (CBDC) Race: 2020 Year in Review
As 2020 comes to a close, we take a look back at the most important developments regarding the pursuit of Central Bank Digital Currencies (CBDC).
US Government Plans to Use USDC Stablecoin to Offer Foreign Aid in Venezuela
U.S government has tapped Circle’s USDC stablecoin to offer foreign aid in Venezuela through President-elect Juan Guaidó exiled government.
Amazon Aims to Advance Its Digital Currency Project in Mexico
Amazon has been planning on launching a digital currency project in Mexico, and a job posting revealed that it was looking for engineers and developers for the part.
Japan Aims to Curb the Potential Influence of China’s Digital Currency With Help From the US
Aiming to curb the potential influence of China’s digital currency electronic payment, its nation’s central bank digital currency, Japan is looking to release its own digital currency proposals today. According to Prime Minister Shinzo Abe, the country is also requesting support from the US Federal Reserve.